Christmas 2020 Direct Deposit

The notification I received stated Wednesday 12/23 by 5pm but I want to know when deposits will go into employee's banks since nothing will be processed on Friday. 

I'm here to make your employees get paid on time when there’s a holiday, @Lupita1 & @Lesley85.

For your concern @Lupita1, since December 25 is a Federal Holiday, most of the banks will be closed during this day. However, you can process your payroll as early as December 22, 2020, before 5:00 PM PST. This way, you're employee will able to receive their paycheck of the 24th of December. 

Here's how: 

1. Go to the Employees menu and select Pay Employees. Then, select Unscheduled Payroll from the check types.
2. Verify the Pay Period Ends date, Check Date, and Bank Account the money is drawn from.
3. To see everyone's paycheck details, select Open Paycheck Detail.
4. Select Save & Next to go to the next employee, or click Save & Close to go back to the Enter Payroll Information window.
5. When the checks are ready to be created, select Continue.
6. Review the Check/Direct Deposit printing options.
7. Verify the amounts for each employee, and select Create Paychecks.
8. Print paychecks and print pay stubs now or later if desired.

With regards to your payroll, @Lesley8. If you approve your paychecks before 5:00 PM PST on Wednesday 12/23/2020, we’ll process the direct deposit and debit your account on Thursday 12/24/2020. However, your employees will receive the funds on Monday 12/12/2020 since December 25 is a non-business day. 

If you wish to pay your employees before the 25th of December, you can run your payroll before 5:00 PM PST on December 22. This way, your employees will receive their paycheck on the 24th of December.

For more details, you can check out these articles: 

• How do federal holidays affect my direct deposit?
• Holidays Observed - K.8
• Federal holidays

I'm just a reply away if you have other questions with the QuickBooks Online Payroll. Just add the details of your concerns in this thread and I'll help you out. Have a great day ahead.

Thanks for your quick reply. Do I need to change anything in my settings to process for the 24th?

Thanks for the prompt response, @Lesley85.

I'll share some learning about processing payroll in holidays in QuickBooks Desktop.

There's no need to change your payroll settings on your account. Just make sure to choose December 24, 2020, in the Pay Period Ends date and Check Date in running the payroll. For example, if a direct deposit was created on 12/22/2020, Intuit would send payroll on 12/23/2020. Then the amount will post on your employee accounts on 12/24/2020. 

You can follow the steps provided by my colleague above on how to process the paycheck. For additional insights, you may visit this article: How do federal holidays affect my direct deposit?

Additionally, please browse through these articles below about direct deposit limits, reverse, and other topics. 

• Reverse a direct deposit
• Get help if you’re over a direct deposit limit
• Run Payroll

Let me know if you need additional assistance by leaving a reply below. I’m always here to help. Take care!

Friday is Christmas and is a bank holiday and so on one will get deposits on that day.

To get the money to the employees by Friday, date your payroll Thursday and send it by Tuesday 5pm.

So if I ran it already on Monday, and the money was taken today.  But I forgot to change the paydate.  Will it be deposited on the 24th anyways?

Thank you for joining the thread, @Davian.

We will credit the employee's pay based on the paycheck date. Since the check date is dated on the 25th, the payroll will be deposited to the employee's account on the next banking day, which is on December 28th.

For additional insights, you may check out these articles:

• How do federal holidays affect my direct deposit?
• When do I need to submit payroll to pay employees on time?

Don't hesitate to reach out to us again if you need anything else. We're always here to help. Take care!